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Pearson CEO buys more time by selling FT Group and Economist stake
Pearson is pricing in a +3.9% CAGR growth rating but has delivered only +1% organic revenue growth in H1 FY15. Deferred revenues however were up +3% organic at end H1, which if translated into similar improvements in H2 organic revenue growth would put the group on course to perhaps delivering +4-5% for FY16 and therefore […]
Continue readingPearson H1 FY14 results – cost savings promised, but no growth committment yet
Markets took a little time to appreciate the current cyclical and structural squeeze on profitability, but eventually got the message. So far, that message is pain today as the group invests to extend is leadership in digital learning through a protracted cyclical downswing in its main markets followed by jam tomorrow as these measures yield […]
Continue readingInforma starts clearing the decks ahead of new CEO arrival
A Friday announcement ahead of a sunny weekend and in the middle of the results season and school holidays is usually a good time to dribble out some news that you don’t want attracting too much attention. So today we have the announcement by Informa that it is dumping 5 of its training businesses for […]
Continue readingDMGT Plc (DMGT LN): Window of opportunity. Use it or lose it
DMGT has become an increasingly interesting investment proposition, but the opportunity may not persist for too long. On one side, there is a strengthening cyclical and structural play in both B2B and B2C. Obscuring this however is a short term negative technical position with the shares as they approach the 6 June, when the shares […]
Continue readingUBM (UBM LN): Take profits
Valuation recovery running ahead of trading momentum Stock: UBM Plc (UBM LN) Price: 634p Target: 595p Upside: -6% Recommendation: Trading Sell Investment summary UBM was or top pick in our “Telecom & Media Dividend Watch†review at the beginning of the year (4 Jan 2012) and after a +29% share price appreciation since then (+24% […]
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